This chemical is primarily utilized in organic synthesis, particularly as an intermediate in the production of more complex molecules. Its structure, featuring a cyclobutane ring and a methoxyphenyl group, makes it valuable in the development of pharmaceuticals, where it can serve as a building block for active pharmaceutical ingredients (APIs). Additionally, it finds application in the synthesis of specialty chemicals, including agrochemicals and fine chemicals, where its unique reactivity can be leveraged to create compounds with specific biological or chemical properties. Researchers also explore its potential in material science for designing novel organic materials with tailored functionalities.